Expert services are often a critical part of the insurance claims adjusting process. There are times when experts are needed immediately to take a deep look at complex issues. And there are other times when they are engaged to confirm or dispute a coverage determination.
Every carrier and adjuster works with a roster of engineers and other experts to resolve claims. The process is often hectic and difficult, with many moving pieces. At Hancock Claims, we built a better way to engage with experts and engineers.
How Do You Find Engineers for Insurance Claims?
When adjusters work with engineers and experts on a 1-to-1 basis, the process is very manual. You have to locate the right fit, manage scheduling, negotiate pricing, work through invoicing and communicate throughout the workflows and timelines.
We actually work with many of the same firms you may already have on the roster. Our Preferred Expert Services ecosystem, however, is much different.
For starters, we manage:
- Budgets.
- Timelines.
- Workflows.
- Engineer matching.
By doing the heavy lifting, adjusters have more time to focus on processing claims with a higher potential for cost savings.
For example, you may require a mechanical and electrical engineer for a claim. By accessing our robust network, we can help you source a single engineer qualified in both fields. The result is a more cost-effective means of achieving the same end result.
Access to a larger segment of available experts is just the beginning. Besides saving time, effort and costs, our Preferred Expert Services network offers deep data and reporting to benefit both carriers and engineers.
Leveraging Transparent Data and Analytics to Support Carriers and Adjusters
Relying on a small subset of relationships to access engineers limits your ability to control price and analyze data from the larger marketplace.
Our system offers deep insights into performance and costs by reporting average invoice amounts and cycle times. Armed with this information, modifying assignment preferences help find the ideal matches for each claim.
Here’s a clear example of the process in action:
One engineering firm was charging 30%–40% more than the average quote, but they were driving fewer positive litigation outcomes.
Through our reporting, this issue surfaced, and carriers were able to find more cost-effective matches with better results.
Without our analytics, however, adjusters may have over-utilized specific relationships because they were data-blind to the cost differences and outcomes when compared to the larger market.
How Data Helps Engineers Elevate Performance
Intensive data analysis and reporting help on the engineering side of things as well. We foster healthy competition by reporting datasets to engineering firms. With access to competitor costs, availability, cycle times and more, firms can adjust to be more competitive.
This ultimately benefits carriers and adjusters by creating a level playing field where all information is transparent and accessible for every party.
One-Stop Shop for Adjusters and Carriers
When Hancock manages the front-end processes, like budgets, scheduling and workflows, the result is major time savings for adjusters. We see the process of expert service utilization through to conclusion.
Payment processing and management – Stop chasing down invoices, managing payments and paying processing fees. We cover every aspect of payments on our end at no additional cost.
Single point of communication – Put an end to the back and forth with account managers, office managers, engineers and all of the associated stakeholders on projects. You can handle everything with a single contact at Hancock.
Ease of use – This resonates among adjusters using our Preferred Expert Services network. Sourcing and managing engineers was once a major time requirement. Now, it’s very easy to manage every aspect of the process.
Through the implementation of technology and an aligned network of experts, you can close claims faster.
A Real-World Example of Rapid Deployment for Insurance Claims
When a crisis hits, the Preferred Expert Services network really shines. We bring volume to engineering firms and often have priority when it comes to reserving engineers in urgent times. There are plenty of examples, but Hurricane Ian is the perfect demonstration of our network in action.
How We Expedited Engineers During Hurricane Ian
Sanibel Island was a unique disaster site after the hurricane. (View the carnage here.) It had no access, no electricity, and resources on the ground were essentially nonexistent. One carrier had an influx of hundreds of claims and needed solutions.
Our internal team gathered the claims database and mapped each claim. We then divided the island into sections to consolidate claims within walking or biking distance of each other.
A team of engineers was sourced from our network on behalf of the carrier. We found a boat to transport everyone to the island.
With the geographical mapping, engineers were assigned specific areas where they could go door-to-door and complete assignments while Hancock managed all of the difficult logistics and safety implementations.
The add-ons during this time are a great example of how our Full Claims Lifecycle Support Under One Roof factors into the need for expert services.
While engineers worked through cases, our other service teams were available for ladder assists and tarp removal/resets in the field. This helped ensure the expert’s safety at great heights AND ensured retarping was properly set back in place. Without the full circle of services, insurance claims would have stalled and been difficult to complete in a timely manner.
At the end of the day, collaboration wins with our Preferred Expert Services network. Learn more about the network and how to easily request a service today.
